Talent Management Innovator Taps Big Data to Pinpoint at Risk Employees and Show Cost of Retaining vs. Replacing Your Most Valuable People
LAS VEGAS, NV -- HR TECH CONFERENCE -- (Marketwired) October 7, 2014 -- Saba (OTCPink: SABA), a leader in cloud-based intelligent talent management, announced Compensation@Work™, a predictive solution for simplifying and personalizing the increasingly complex employee salary and incentive pay process. The solution is being demonstrated this week at the HR Technology Conference in Las Vegas at Saba’s booth, 2157.
Compensation is simultaneously a company’s biggest lever and its biggest challenge to use strategically. The Saba solution, developed with a cross section of large and mid-size enterprise design partners, uses machine learning to surface many otherwise hidden indicators, or “signals” of the value, engagement and cost of your team members.
“Compensation@Work sifts through dozens of signals in your business to net out the intersection between pay, value and risk and then recommends pay and incentives for the people driving your business. Strategic compensation doesn’t have to be complex, but it needs to be right”,” said Saba Chief Technology Officer, Hemanth Puttaswamy. “Compensation@Work is both simple and sophisticated; it is to incentive pay what TurboTax is for expediting tax filing. “
More than half of employers report difficulty retaining high-potential employees and top performers according to a Towers Watson 2014 Global Talent Management and Rewards Study. One huge disconnect is the inefficient and ineffective method by which businesses attempt to reward their most valuable people. Typically, by the time annual merit increases get meted out, many of the best people in pivotal positions—like actuaries in insurance businesses and data scientists in tech companies—are in jeopardy of leaving.
Compensation@Work, built with patent-pending machine-learning algorithms is a next generation reward management system which is:
“After hating the merit-pay-increase matrix for 25 years, imagine my delight in seeing that Saba plans to debut a Big Data and machine-learning product that encourages you not to treat every employee the same, tells you who needs to be treated differently and even indicates how much the good ones may cost to keep them from leaving!” said Bill Kutik, HR technology pundit, columnist and host of The Bill Kutik Radio Show.
“Saba’s risk identification and retention analysis is very powerful – just like the analytics behind it. This is an exciting innovation that can help many organizations like ours,” Barbara Lewis, Director of Talent Management at AdvantEdge.
“Saba’s Compensation@Work provides a very clean, user-friendly interface; it’s machine-learning smarts and wizards make it a powerful and flexible tool for managers and admins alike,” said Lisa Chan, Manager, HR Operations and Application Support, OMERS.
“A compensation tool needs to be powerful, but also flexible and easy to use. I’m impressed with Saba’s active engagement of customers in the design process to provide such a solution. Saba’s Compensation@Work design covers these elements and offers much more than the standard compensation components for deeper insight to power the best decisions.” Michelle Graves, Senior HR Business Consultant, RapidLD.
Saba’s Compensation@Work rounds out Saba’s full talent management offering, all built on Saba’s intelligent cloud platform, which taps powerful machine learning to deliver more predictive, personal insights on the skills, aspirations, network impact and potential value of all members of a company’s team. Named by Gartner as a leading talent management innovator, Saba is widely regarded for its irresistible, intelligent set of solutions for better finding, developing, engaging and inspiring people in their jobs.
Compensation@Work is in limited release now with large, mid-size and small customer and partner design partners. General availability is currently scheduled to be in the Saba Cloud fall release at the end of November. More information is available here.
Saba (OTCPink: SABA) delivers a cloud-based intelligent talent management solution used by leading organizations worldwide to hire, develop, engage and inspire their people. With machine learning at its core, Saba Cloud offers proactive, personalized recommendations on candidates, connections and content to help employees and businesses lead and succeed. It is purpose-built on a highly scalable platform that exceeds industry security and reliability standards. Saba has more than 31 million users and 2,200 customers across 195 countries and 37 languages. Learn more about intelligent talent management at www.saba.com.
Legal Notice Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws, including, without limitation, statements regarding the availability, features and benefits Compensation@Work. Risks and uncertainties Saba faces that could cause results to differ materially include risks associated with: Saba's development efforts, dependence on growth of the markets for Saba's products, dependence on acceptance of Saba's products by customers and channel partners, fluctuation in customer spending, length of Saba's sales cycle, competition, rapid technological change, dependence on new product introductions and enhancements, and potential software defects. Readers should also refer to the section entitled "Risk Factors" in the Form 10-K for the fiscal year ended May 31, 2011, and similar disclosures in subsequent reports filed with the SEC. The forward-looking statements and risks stated in this press release are based on information available to Saba today. Saba assumes no obligation to update them.
Any reference to future products, features or functionality is intended to be for informational purposes only. It is not a commitment to deliver any material, code, or functionality, and should not be relied upon in making purchasing decisions. The development, release, and timing of any products, features or functionality described in this communication remains at the sole discretion of Saba and may change at any time, with or without notice.